The dollar is declining." Positive indicators from the Sulaymaniyah Stock Exchange after the war ended.
On Tuesday, the official spokesperson for the Sulaymaniyah Stock Exchange, Koran Jabbar, linked the decline in the dollar exchange rate in Iraq to the announcement of a halt to the regional war between Iran and Israel. He stressed that any provocations or mutual escalation between regional parties
could lead to slight fluctuations in exchange rates.
The video for this My FX Buddies Blog is below here:
"The decline in tensions in the region and the emergence of signs of understandings between Iran and the United States have directly impacted the dollar exchange rate in the Iraqi market, which has dropped from 148,000 dinars to 142,000 dinars per 100 US dollars," Jabbar told Shafaq News Agency.
Jabbar explained that "the recent decline in the exchange rate is linked to a number of political and economic factors, most notably the cessation of military escalation and the resumption of dialogue channels between Tehran and Washington. These changes have also boosted market confidence and led to a relative improvement in the value of the Iraqi dinar against the dollar."
He added that "recent statements by US President Donald Trump have also contributed to supporting the Iranian currency," explaining that "Iran, as one of the largest economies in the region, possesses a strong production infrastructure and has been able to build a self-sufficient economy since 1979, making it less vulnerable to collapse due to political and security tensions."
The stock exchange spokesperson noted that "continued provocations or mutual escalation between regional parties may lead to minor fluctuations in exchange rates, but they are not expected to have a radical impact on monetary stability in Iraq or Iran in the near term." He noted that "the current price of the dollar in the Iraqi market is acceptable and relatively stable, and is likely to continue unless severe geopolitical developments occur."
He stressed the "need for a well-thought-out difference between the official dollar exchange rate approved by the Central Bank of Iraq and the market rate, as this plays a significant role in alleviating pressure on foreign exchange reserves and enhancing the effectiveness of financial trading mechanisms."
The exchange rate of the US dollar against the Iraqi dinar witnessed a significant decline in the markets of Baghdad and Erbil on Tuesday evening, coinciding with the closing of the stock exchanges. The dollar exchange rate in Baghdad fell to 141,600 dinars for $100, compared to its morning level of 142,500 dinars. Prices also declined in Erbil, reaching 141,300 dinars for sale and 141,100 dinars for purchase for $100.
Turkish President Erdogan meets US President Trump on the sidelines of the NATO Summit of Heads of State and Government...
🔴Turkish President Erdogan meets US President Trump on the sidelines of the NATO Summit of Heads of State and Government
• During the meeting, Erdogan welcomed the ceasefire agreement between Israel and Iran, achieved through President Trump's efforts, expressing his hope that it would be permanent.
• Erdogan stressed the importance of direct dialogue to end the humanitarian tragedy in Gaza as soon as possible and to reach a peaceful solution to the war between Russia and Ukraine.
Post PRoduction I got an article about it
Erdogan, Trump Meet at NATO Summit to Discuss Ceasefire, Bilateral Ties and Regional Crises
Erdogan expressed interest in boosting ties in the areas of energy, investment, and defense. He underscored that enhanced bilateral relations could support the long-standing goal of reaching a $100 billion trade volume between the two NATO allies.
Turkish President Recep Tayyip Erdogan met with US President Donald Trump on Tuesday on the sidelines of the NATO Summit in The Hague, where the two leaders held talks on regional and global developments, as well as bilateral cooperation, according to the state-run Anadolu Agency (AA).
In a statement released by Türkiye’s Communications Directorate, President Erdogan welcomed the Israel-Iran ceasefire, which he said was “achieved through US President Trump’s efforts.” He emphasized the need for this ceasefire to pave the way for a broader, lasting peace in the region. Erdogan also called for an immediate end to the ongoing crisis in Gaza and urged renewed dialogue to address the war in Ukraine.
Highlighting the strong potential for deeper cooperation between Ankara and Washington, Erdogan expressed interest in boosting ties in the areas of energy, investment, and defense. He underscored that enhanced bilateral relations could support the long-standing goal of reaching a $100 billion trade volume between the two NATO allies.
Both leaders reaffirmed their commitment to strengthening NATO’s deterrence capabilities and emphasized the critical role that Türkiye and the United States play as leading partners within the Alliance.
Accelerating the completion of financing and disbursement procedures for investment projects... Al-Sudani directs
To the Ministries of Finance and Planning
Prime Minister Mohammed Shia al-Sudani directed the completion of financing and disbursement procedures for investment projects on Tuesday during a meeting to approve the ministries' investment project dues schedules.
Prime Minister Mohammed Shia al-Sudani chaired a meeting on Tuesday to approve the schedules of dues for investment projects for ministries.
The meeting reviewed the basic details of the projects, where the final schedule for the launch of (2) trillion dinars was approved to cover the investment plan projects of the ministries in accordance with the relevant Cabinet decision, which was issued in the twenty-second session of this year, noting that (1.4) trillion dinars were launched for investment projects in the governorates, and the Prime Minister directed the Ministries of Finance and Planning to expedite the financing and disbursement procedures.
This step confirms the government's commitment to completing its service projects, which will see accelerated implementation and completion, based on the government's program to develop productive investment, service, and economic sectors to provide services to citizens.
Economist: Technology has triumphed... 12 days that reshaped the Middle East
Economic expert Munar Al-Abidi said on Tuesday that the sole victor in the twelve-day battle was technology. It tipped the scales of the conflict, granted superiority, and whoever possessed it possessed the initiative and the ability to persevere and endure.
Al-Abidi stated in a blog post that in just twelve days, the face of the Middle East has changed in ways not seen in half a century, and may never be the same again.
It was not just a few days of escalation or tension, but a watershed moment that redrawn the map of influence and the balance of power in the region, and forced everyone—countries and peoples alike—to reconsider their positions, their alliances, and the way in which nations should be rebuilt.
He added, "These days have proven that no one emerges victorious from battles that rely less on reason than on emotions. The only victor in the twelve-day battle was technology; it tipped the balance of the conflict, it granted superiority, and whoever possessed it possessed the initiative and the ability to persevere and endure."
The message is clear: It is no longer enough to raise slogans or feed our people with wishes. What we need today, Al-Obaidi said, more than ever is to rebuild our nations on the foundations of science, knowledge, and culture, to leave the arenas of futile conflict and the circles of internal division, and to believe in hard work as the only path to salvation and progress.
He continued, "These few days have held for us a true mirror in which we see our image clearly: Who are we? Where do we stand? What is our position in the new Middle East, which is now being reshaped by ideas and visions completely different from those that have dominated the region over the past five decades? It is a call to awaken, to understand the transformations around us, and to begin, with seriousness and awareness, to establish strong homelands that will not be broken by the winds of change."
Integrity: Iraq joins Beijing's Clean Silk Road Initiative
The Federal Integrity Commission announced, on Tuesday (June 24, 2025), Iraq's accession to the "Beijing Clean Silk Road Initiative," indicating that this comes in implementation of Article (3/6) of the Memorandum of Understanding concluded between the Commission and the National Oversight Commission of the People's Republic of China.
In a statement received by Mawazine News, the Commission stated that "the cooperation and coordination between the Commission and the Embassy of the People's Republic of China in Baghdad culminated in joining the initiative after completing the procedures," explaining that this will contribute to strengthening international relations and highlighting the Commission's efforts, endeavors, activities, and achievements in the field of combating corruption. It noted the confirmation of the National Oversight Commission of the People's Republic of China of its readiness to enhance cooperation and joint work with the Commission in the field of combating corruption and law enforcement, to build a Clean Silk Road.
She noted the Commission's welcome and announcement that Iraq has become the eighteenth country to join the initiative, which aims to enhance transparency, financial and intellectual cooperation, develop governance and laws, and promote oversight and legal awareness. It also aims to establish a closer network for cooperation in the field of justice and law enforcement, exchange expertise and information, develop human resources, pursue fugitives, and reject safe havens for fugitives and illicit assets.
The Commission added that the initiative calls for the signing of bilateral treaties on extradition and mutual legal assistance, based on international agreements, and the exchange of information and expertise between relevant anti-corruption agencies. It also calls for launching highly effective anti-corruption cooperation, promoting self-discipline, legal awareness, and a sense of responsibility, and enacting laws to combat corruption and combat bribery, with the aim of creating a sound relationship between governments and companies.
Iraq praises US-brokered Iran-Israel ceasefire
On Tuesday, Iraq’s Foreign Ministry welcomed the US-mediated ceasefire between Iran and Israel, describing it as a constructive step toward de-escalation and regional stability.
In a statement on X, the ministry reaffirmed Iraq’s support for diplomatic and peaceful approaches to resolving regional crises, emphasizing the importance of protecting civilians and preventing any further spread of the conflict.
Iraq highlighted the critical need for full adherence to the ceasefire, noting its potential to reduce tensions and open the door for renewed dialogue and negotiations.
The statement also extended congratulations to Qatar for its diplomatic efforts in facilitating the agreement, recognizing Doha’s role as a contributor to broader regional stability.
Notably, the ceasefire between Iran and Israel came into effect at 7:00 am today, following an announcement by US President Donald Trump, bringing an end to 12 days of hostilities.
The rise of the Iraqi dollar is not due to "colored noise." An expert discusses Mazhar Mohammed Saleh's opinion.
5 Reasons Bigger Than "Psychological Issue"
Economic expert Suham Yousef attributed the return of the dollar exchange rate to five “structural” reasons that plague the Iraqi economy. The expert says that the turmoil witnessed in the financial markets is related to the fragility of the economy due to its total dependence on oil revenues, in addition to the strict restrictions imposed on foreign transfers for two years, the measures of the US Office of Foreign Assets Control (OFAC), in addition to dollar smuggling operations to cover trade outside the control of the state, and finally the trust gap between citizens and the Iraqi banking system. This contradicts what the government says, as Mazhar Muhammad Salih, advisor to the Prime Minister, attributed the renewed decline in the value of the dinar against the dollar to “colored noise” resulting from the military escalation in the region. “This is an economic phenomenon that accompanies digital financial markets due to conflicting information and data, which constitutes a price trend in the dollar exchange rate and creates an unstable price gap that achieves benefit and profits for speculators. This is a temporary condition that should disappear with the end of the war crisis and its current tensions,” according to Muhammad Salih. Yousef rejects this explanation.
olored noise” does not convince the markets or address the crisis.
In a new justification for the rise in the dollar exchange rate on the parallel market, the hypothesis was put forward that what is happening is nothing more than "informational noise" or even "colored noise" fueled by the atmosphere of the Iran-Israel war and the accompanying rumors and temporary psychological expectations. Although unofficial markets are indeed sensitive to regional events, reducing a crisis that has been ongoing for years to a psychological-media explanation seems like a convenient theory that does not reflect the reality of the financial landscape.
We can agree on some points, including that Iraq has foreign reserves exceeding $96 billion, covering more than 15 months of imports, well above the international standard of three months. Furthermore, the parallel market is effectively affected by political and regional tensions, and price fluctuations are amplified by speculation. The price gap between the official and parallel markets, sometimes exceeding 100 dinars to the dollar, entices speculators to make quick profits.
However, ignoring the impact of the parallel market and reducing it to mere “psychological noise” contradicts reality. Using terms such as “colored noise” overly abstracts a crisis with deep structural dimensions and excludes the more important structural causes, which we explain below:
1. The Iraqi economy is considered a fragile economy, as it relies almost entirely on oil revenues, which are subject to global market fluctuations and geopolitical crises. The paradox facing the economy today is that the rise in oil prices due to the war between Iran and Israel has not had a positive impact on the dinar's exchange rate; instead, we have witnessed a decline in its value. This highlights the weak ability of the rentier economy to translate oil revenues into actual monetary stability, a result of weak economic diversification and the lack of effective fiscal and monetary policies to transform these revenues into real and sustainable support for domestic liquidity. This confirms that exchange rate fluctuations are not merely informational noise or fleeting psychological expectations, but rather the product of deep structural challenges that hinder monetary stability and exacerbate the fragility of the currency market, despite the availability of significant financial resources.
2. The strict restrictions on foreign transfers imposed since 2023 through the Central Bank's platform, imposed as part of compliance with anti-money laundering and counter-terrorism financing requirements. These restrictions have created several problems, including delays in transfers for weeks or even months, and the rejection of a large number of requests due to lack of documentation or suspicion. The result has been traders' reluctance to use the official platform and their shift to the parallel market to quickly secure dollars, increasing demand and widening the price gap.
3. Furthermore, the US Office of Foreign Assets Control (OFAC) imposes strict controls on dollar-denominated money transfers, placing Iraqi banks under unprecedented pressure. This is particularly true given the weakness of electronic systems to combat money laundering, the fragility of the banking sector's information infrastructure, and the lack of effective coordination between banks and importers regarding the provision of documentation. These difficulties slow down or reject bank transfers, increasing reliance on cash dollars from the informal market.
4. Currency smuggling across fragile borders with neighboring countries cannot be ignored. The smuggled currency is used to settle unregulated trade deals outside state oversight. The Central Bank itself has acknowledged more than once that hard currency is not fully utilized in the local market, but rather smuggled in large quantities, disrupting the market's balance and squeezing supply.
5. Finally, there is a deep trust gap between citizens and the formal banking system, resulting from years of banking crises, complex procedures, and failed experiments such as electronic withdrawals and limited access to cash. This has led citizens and merchants to prefer keeping dollars in cash or purchasing them from the parallel market rather than undergoing a lengthy series of procedures and concerns.
In conclusion, it can be said that talk of "colored noise" may satisfy academic theorists, but it does not convince the merchant awaiting his pending remittances, nor the citizen who pays more than he can afford to secure his hard currency. What is happening in the parallel market is not a passing disturbance, but rather a reflection of deeper structural imbalances, including a weak banking system, regulatory policies that lack flexibility and precision, persistent currency smuggling that empties the market, and a severe trust gap between the state and the people.
Ignoring these causes and relying on terms like “colored noise” does not resolve the crisis; rather, it hinders its real confrontation.
White House: Netanyahu understands Trump will no longer participate in the conflict
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Kurdistan directs banks to halt financial disbursements for two months
The Ministry of Finance and Economy in the Kurdistan Region directed all banks on Tuesday to suspend all types of exchange for two months, effective from today.
An informed source stated that "the ministry issued an official directive to all banks to suspend all types of exchange for two months, without explaining the reasons behind this decision."
The decision of the Ministry of Finance and Economy in the Kurdistan Region to suspend all types of exchange for two months comes amid the complex financial and economic circumstances facing the region, as it suffers from an ongoing crisis in securing salaries and financial dues, in addition to the ongoing disputes between the regional government and the federal government regarding the oil and budget issues.
iranian embassy in Baghdad surrounded in celebration... "Party until morning and severe resentment towards Al-Sudani"
Supporters of the resistance factions and the Popular Mobilization Forces (PMF) continued their nightly celebrations in front of the Iranian embassy in the Al-Salihiya district in central Baghdad. This came after calls from political and community figures to take to the streets to celebrate the victory over Israel. The participants chanted slogans in front of the Iranian embassy in support of the Supreme Leader of the Islamic Revolution in Iran, Ali Khamenei, and the resistance factions in Iraq, Palestine, Lebanon, and Yemen. One of the participants criticized Prime Minister Mohammed Shia al-Sudani for Iraq's declaration of solidarity with Qatar following the Iranian bombing of the Al-Udeid base west of Doha.
Get ready... Iran is coming with a million barrels... The Sudanese are drowning in debt and confused about salaries.
Nabil Al-Marsoumi's accounts and numbers
Less than 24 hours after the ceasefire between Iran and Israel came into effect, and its significant impact on global oil markets, the price of a barrel fell by about $10. Iraqi oil expert Nabil Al-Marsoumi reviews the expected scenarios facing Iraqi exports and their repercussions on the wage bill (at least 7.5 trillion dinars per month), an amount saved by exporting 3.4 million barrels per day at a rate of $65. However, Al-Marsoumi believes that this equation is fragile and will not withstand future changes, especially with Trump hinting at the possibility of easing sanctions on the Iranian energy sector by calling on China to buy oil and its derivatives from Tehran, which would allow the pumping of a million new barrels into the market. In addition, the OPEC Plus decision expected early next month to raise its export rate by 411,000 barrels per day will increase pressure on global prices and push them to the ceiling required by the US President. Ultimately, Al-Marsoumi arrives at a straightforward conclusion: the government will continue its path of domestic borrowing to cover the wage bill and investment spending, which inevitably leads to the erosion of reserves. Foreign debt to the Central Bank, as the government borrowed 7 trillion dinars over the past five months, bringing domestic debt to more than 85 trillion dinars, with the Central Bank's reserves declining to $97 billion, compared to approximately $101 billion at the end of last year.
Oil prices fell to an average of $66 per barrel due to the removal of geopolitical risks that had raised prices by an average of $10 over the past period. However, after these risks subsided, the global market returned to normal levels. Indeed, the decline increased today after Trump's statements that China could buy oil and its derivatives from Iran, a signal to the markets that sanctions on Iran could be eased, which would have significant implications for the oil markets.
75% of Iran's oil exports go to China, and despite all the economic sanctions imposed on it, it exports about 1.5 million barrels per day. Trump's statement on this did not change the oil market, but rather the sentiment of buyers, as global markets received it as a positive signal. Easing sanctions on Iran's energy sector could increase its oil exports by about half a million barrels per day, and the increase could reach 750,000 or even a million barrels per day if Trump is serious about easing the sanctions. If that happens, it will create significant pressure on current prices.
There is media confusion about the price differential between Basra crude and Brent crude. The usual differential is $4 for Basra Heavy, while Basra Medium is very close to Brent. Sometimes, misunderstandings about the differences between Brent and Basra occur due to time zone differences, as Basra crude prices are updated about 10 hours late. Also, due to the quality of Brent crude compared to Basra crude, which is a light crude with a density of 38% and is a sweet oil.
Iraq's oil revenues for May amounted to 8.2 trillion dinars. After deducting 1 trillion dinars for oil licensing companies, the total will be 7.2 trillion dinars. This covers only the Iraqi payroll bill for employees, retirees, and social welfare networks. The remaining budget expenditures are covered through non-oil revenues and borrowing. It should be noted that the amount of revenue decreased by approximately $300 million compared to last April's revenues.
Oil revenues for June may rise slightly due to the relative increase over the past two weeks. However, there is a major financial problem in Iraq that has not been truly addressed and will cast a shadow over the Iraqi economy in the coming months.
Iraq's wage bill requires an average price of $65 per barrel, with an export rate of 3.4 million barrels per day, to cover salaries (7.5 trillion dinars) and oil company dues (one trillion dinars). The budget figure of $70 is an estimate.
Covering the state's actual expenditures, including salaries, is linked to oil price developments. In 2024, oil prices averaged $76 per barrel, and we emerged with a total deficit of 20 trillion dinars. This year, the problem was less severe in the first quarter when oil prices averaged $72. Now, the problem has increased because the price has fallen, leading to an increase in borrowing of 7 trillion dinars to cover the existing budget deficit. This number is expected to increase in the coming months, even with the expected increase in production rates by OPEC Plus, starting next month, by about 411 million barrels per day. All of these measures come under pressure from Trump to maintain low prices.
Al-Sudani after the ceasefire: Iraq was not in a position of weakness, and we have faced terrorism before.
He described yesterday's attack as "treacherous and cowardly
Prime Minister Mohammed Shia al-Sudani said that Iraq was not in a position of weakness and that his government dealt with the events with a priority given to the interests of the Iraqi people. He noted that the attack targeting Iraqi bases was treacherous and cowardly, and that he ordered an immediate and comprehensive investigation to determine the extent of the attack.
Highlights of Prime Minister Mohammed Shia al-Sudani's remarks during the 25th Cabinet session held today, Tuesday:
We hope that the ceasefire agreement will be strong and cohesive, not fragile.
We affirmed Iraq's position of condemning and rejecting the Zionist aggression against the Islamic Republic of Iran, and its deliberate attempt to undermine security and peace in the region.
The Zionist entity used failed pretexts to expand the scope of the conflict, and the root of the problem is the neglect of Palestinian rights.
Iraq has never been and will never be in a position of weakness. We have previously confronted terrorism and defeated it, and we have succeeded in averting dangers and sparing our people the tragedies of war.
We will not tolerate any internal or external action that harms security, and we will confront it with all firmness and strength.
We dealt with the events in a way that prioritizes the interests of the Iraqi people, which is the required stance.
We appreciate all the positions of the national political forces, institutions, and constitutional presidencies that supported the government's policies in dealing with the recent events in the region.
Iraqi military bases were subjected to a treacherous and cowardly attack by suicide drones, which damaged the radar systems at the Taji and Imam Ali (PBUH) bases in Dhi Qar.
Our armed forces and air defenses quickly responded to the remaining attacks targeting other bases, and shot down the aggressor aircraft.
We have ordered a comprehensive, technical, intelligence investigation to determine the extent of the drone attack, and the situation is being monitored.
Our government has developed a comprehensive plan to secure the air defense system, and there are a number of contracts and projects to complete the arming of the air defense system according to the latest sources and specifications.
•••••
The Prime Minister's Media Office
June 24, 2025
Al-Sayhoud talks about the latest developments in the 2025 budget
MP Mohammad Al-Sayhoud revealed on Tuesday that meetings are taking place between the Ministry of Finance and the Parliamentary Finance Committee regarding the 2025 budget schedules, noting that the schedules have not yet been finalized.
Al-Sayhoud told Al-Maalouma News Agency, “The Finance Committee held several meetings with representatives of the Ministry of Finance over the past few days to follow up on developments in preparing the budget schedules, but the government has not yet officially determined a date for sending them to Parliament.”
He added that "the House of Representatives does not have detailed information regarding the reasons for the postponement, despite the budget's importance in supporting public spending and implementing service programs," noting that "the delay in resolving this issue could impact the timing of the launch of upcoming projects in a number of governorates."
Parliament is awaiting the government's submission of the budget schedules to proceed with the voting process, amid the absence of official clarification regarding the reasons for their non-release. End
Al-Maliki: The illusion of Greater Israel collapsed under the steadfastness of the Iranian, Lebanese and Palestinian consciousness.
The leader of the State of Law Coalition, Nouri al-Maliki, congratulated the Islamic Republic of Iran on its victory over the Zionist entity.
Al-Maliki said in a statement: "The Zionist entity launched a blatant aggression against Iran without any justification, and its firm stand in confronting it constituted a rare epic unprecedented in the history of the entity."
He added: "The rapid and unprecedented Zionist response to the ceasefire revealed the size and strength of the precise Iranian strikes that struck deep within the entity."
Al-Maliki stressed: "Iran has achieved an unprecedented victory over the machine of destruction and conspiracy, which prompted some of the entity's allies to retreat from their positions and support for the usurping entity."
He pointed out: "The illusion of Greater Israel collapsed under the steadfastness of the Iranian, Lebanese and Palestinian consciousness."
He concluded by saying: "Caution must continue and the Zionist project must be confronted politically, popularly, internationally and militarily."
After reports of his death, Qaani appears at victory celebrations in Tehran.
Iranian media published a video on Tuesday revealing the fate of the commander of the Quds Force of the Iranian Revolutionary Guard Corps, Esmail Qaani, after reports of his death in the recent Israeli attacks.
Iranian media published widely circulated videos showing Major General Esmail Qaani attending the "Victory Celebration" in Tehran, where people gathered in Revolution Square to support Operation "Beshara Al-Fatah" and to show solidarity with the armed forces.
Major General Qaani's appearance among the people came after the ceasefire agreement between Iran and Israel, announced by US President Donald Trump, came into effect at 7:00 am.
The Hebrew media had quoted the New York Times as reporting that Major General Qaani was killed in the Israeli attacks that Tel Aviv launched on June 13 on Iran, which resulted in the deaths of a large number of Iranian Revolutionary Guard commanders, most notably its commander, Major General Hossein Salami.
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The Ministry of Finance determines the mechanism for calculating “thank you letters” and seniority for employees (document)
The Ministry of Finance revealed the approved mechanism for calculating "letter of thanks" granted to employees. This is based on a legal response addressed to the Ministry of Health, which came as a clarification to MP Mahmoud Al-Qaisi's inquiry regarding calculating the 6-month service period for these letters.
MP Mahmoud Al-Qaisi published in a post on his Facebook page, followed by "Baghdad Today", the Ministry of Finance's clarification regarding the letters of thanks issued by the President of the Republic, which are calculated as follows:
- Only two letters of thanks are calculated for an employee throughout his job service.
- The first letter grants the employee seniority for a period of six months.
- The second letter grants the employee seniority for a full year.
- As for the other letters issued by the President of the Republic, they are considered moral and do not affect the employee's job application.
Regarding the letters of thanks issued by the Prime Minister, the Ministry of Finance clarified that "the employee is granted seniority for a period of six months for each letter of thanks issued by the Prime Minister, and all letters of thanks issued by the Prime Minister are counted within the employee's job service."
Al-Qaisi noted that "this clarification comes as part of the Ministry of Finance's efforts to ensure transparency and standardize the mechanisms for calculating employment benefits for employees in government institutions."
Sudanese advisor reveals the secret of price stability: three effective government tools.
Saleh told Al-Furat News that: “Iraq enjoys a high level of price discipline, as the government has adopted three effective tools to manage the economic and price file in a precise and harmonious manner, represented by fiscal policy, direct support for goods and services, and coordinated management between state institutions.”
He explained that “fiscal policy, in particular, contributes to supporting prices through the general budget by a percentage exceeding 13% of the gross domestic product, which is one of the highest support rates in the world,” indicating that this “is positively reflected in the general price level and contributes to a decline in annual inflation growth rates.”
Saleh pointed out that “this support includes vital areas that affect the lives of citizens, including fuel subsidies, support for farmers, as well as other forms of support in the food and medicine basket and basic government services.”
Parliamentary Finance: Budget tables must be submitted and realistic
The Parliamentary Finance Committee called on the government on Tuesday to expedite the submission of the general budget schedules, stressing the need for them to be "realistic and logical" and reflect the nature of expected revenues, given the current economic challenges.
Committee member Moeen Al-Kadhimi said in a statement, "The Prime Minister had previously directed the Ministry of Finance to prepare the budget tables, and the latter submitted its proposals and recommendations to the Council of Ministers." He noted that "the Prime Minister's Office has not yet issued directives to complete the tables and submit them to Parliament."
He stressed that "the Finance Committee demands that the budget tables be balanced and not include exaggerations, as occurred in the 2023 and 2024 budgets," adding that "it is important for the government to consider the reality of revenues and the country's financial circumstances, and for the budget to be based on realistic foundations that spare the country additional financial burdens."
It is noteworthy that the 2023-2025 budget was enacted in a three-year format for the first time in Iraq's history, but the government has not yet submitted its annual schedules, sparking angry parliamentary and popular reactions.
Netaj Launches Nawat: "Iraq's First VC Studio"
Netaj -- a Baghdad-based innovation firm that offers venture support, strategic consulting, and capability-building for entrepreneurs and institutions -- has announced the official launch of Nawat, which it describes as the country's first-ever Venture Capital (VC) Studio.
According to a press release, Nawat is designed to identify, support, and invest in high-potential Iraqi startups through a tailored 6-month journey that combines mentorship, product development, market access, and funding readiness.
Wissam Mattout (pictured), CEO of Netaj, said:
"Nawat is a movement to reimagine how startups are built and backed in Iraq. We are bridging the gap between raw talent and structured capital, offering founders a launchpad to scale both locally and globally.
"For too long, Iraqi entrepreneurs have had to build in isolation. Nawat will equip them with the expertise, tools, and capital they need, not just to survive, but to lead the next wave of innovation in the region."
The studio is open to 40 startups, segmented across three tracks:
- Ideation stage
- MVP/Prototype stage
- Early-established startups
Each startup receives customized support, including expert-led bootcamps, one-on-one consultations, mentorship from industry veterans, and direct access to investors through demo days and curated matchmaking.
"This is Iraq's moment," said Mattout. "If we want to build serious startups, we need serious infrastructure. Nawat is the missing puzzle piece - designed for founders, by founders."
Nawat offers a hybrid investment model, combining:
- In-kind investment (product development, branding, digital tools) valued between $10K-$25K.
- Direct financial investment ranging from $25K-$250K using convertible notes or equity.
Netaj aims to invest in the top 5 to 10 startups that demonstrate traction, scalability, and founder commitment to operational growth.
Under pressure from Trump and despite some violations, the ceasefire between Iran and Israel holds, with each side declaring "victory.
A fragile ceasefire between Israel and Iran began to hold on Tuesday under pressure from US President Donald Trump, raising hopes for an end to the biggest-ever military confrontation between the two arch-enemies in the Middle East. Both Iran and Israel sent signals that the conflict was over, at least for now, after Trump rebuked them for violating the truce he declared around 0500 GMT.
Meanwhile, the Israeli army announced that all areas of Israel will move to a full level of activity without restrictions, starting today at 8:00 PM local time (1700 GMT).
The Israel Airports Authority announced that Ben Gurion Airport was back in full operation, and the state-run Nour News website reported that Iranian airspace would be reopened.
Iranian media reported that Iranian President Masoud Pezeshkian said that his country had successfully concluded the war, describing it as a "great victory." Iran's official news agency, IRNA, reported on Tuesday that Pezeshkian informed Saudi Crown Prince Mohammed bin Salman during a phone call of Tehran's readiness to resolve differences with the United States within international frameworks.
Netanyahu and Pesachian
Israeli Prime Minister Benjamin Netanyahu declared a historic victory.
"We have achieved a historic victory," Netanyahu said in a televised address to the Israeli people that lasted about ten minutes.
"Iran will never acquire a nuclear weapon," he continued, adding, "We have thwarted Iran's nuclear project. If anyone in Iran tries to rebuild it, we will act with the same determination, with the same intensity, to thwart any attempt."
Iranian media quoted President Masoud Pezeshkian congratulating the Iranian nation on the "great victory" in a war he said Iran had successfully concluded.
Pezeshkian affirmed his country's readiness to return to the negotiating table regarding its nuclear program, while reiterating that it does not seek to develop nuclear weapons, but that it adheres to its "legitimate rights" to peaceful nuclear energy.
These developments come after a seemingly turbulent start to the truce, which is seen as a crucial step to prevent an escalation in the worst fighting between Iran and Israel in decades.
It took hours for Israel and Iran to agree to the ceasefire Trump said he had brokered, underscoring the fragility of the truce between the two bitter rivals and the difficulty of achieving a lasting peace between them.
Trump rebukes Tel Aviv and Tehran
Trump rebuked Iran and Israel, but he was particularly sharply critical of Washington's close ally, Israel, demanding it "calm down immediately." He later said that Israel had ceased further attacks on his orders.
Israeli Defense Minister Israel Katz said he informed his US counterpart, Pete Hegseth, that his country would respect the ceasefire unless Iran violated it. Iranian media reported that Pezeshkian similarly said that Iran would respect the ceasefire as long as Israel did.
The sustainability of the Israeli-Iranian truce is crucial given the deep mistrust between the two countries, but Trump's ability to broker a ceasefire demonstrated that Washington retains some influence in the volatile region.
Israeli Chief of Staff Eyal Zamir said the army had reached "the end of an important chapter, but the campaign against Iran is not over yet."
The army quoted Zamir as saying in a statement that the focus is on returning to Gaza to return the Israeli hostages and "dismantling the rule of (the Palestinian Islamic Resistance Movement) Hamas."
The Iranian military leadership urged Israel and the United States to learn lessons from the "crushing blows" they delivered during the conflict.
Iranian authorities said that 610 people were killed and 4,746 injured in the Israeli raids. Iranian shelling in retaliation for Israel's missile strikes killed 28 people, marking the first time that Israel's air defenses have been breached by large numbers of Iranian missiles.
Oil prices fell and global stock markets rose, indicating confidence generated by the ceasefire agreement, which eased concerns about disruption to oil supplies from the Gulf.
Ceasefire violations?
Trump, en route to a NATO summit in Europe, delivered a sharp rebuke to Israel in an unusual outburst toward his ally, whose air war he joined two days earlier by dropping massive bunker-buster bombs on Iran's underground nuclear sites.
Before leaving the White House to attend the NATO summit in The Hague, Trump accused both Israel and Iran of violating the ceasefire and expressed his deep frustration with Israel, which he said halted attacks shortly after agreeing to the agreement.
"I have to get Israel to calm down now," Trump said, adding that Iran and Israel have been fighting "so long and so hard they don't know what they're doing."
Prime Minister Benjamin Netanyahu's office acknowledged that Israel bombed a radar site near Tehran in what it described as a response to Iranian missile fire three and a half hours after the ceasefire was scheduled to begin.
He added that Israel decided not to launch further attacks following a phone call between Netanyahu and Trump, but did not explicitly state whether the attack on the radar site occurred before or after their conversation.
Iran denied launching missiles, saying the Israeli attacks continued for an hour and a half after the ceasefire was supposed to begin.
feeling of relief
There was a palpable sense of relief in both countries. "We are happy, very happy. Who mediated or how it happened doesn't matter. The war is over. It should never have started in the first place," Reza Sharifi, 38, who was returning to Tehran from the Caspian Sea region of Rasht, where he and his family had moved to escape the attacks on the capital, told Reuters by telephone.
"Unfortunately, it's too late for me and my family, as our house here was completely destroyed in Sunday's bombing, but as the saying goes, better late than never," said software engineer Arik Diamant in Tel Aviv. "I hope the ceasefire will be a new beginning."
Speaking to reporters aboard Air Force One, Trump said he does not want to see the Iranian regime fall.
"Regime change will cause chaos, and we don't want to see all that chaos," he added.
A senior White House official said that Trump brokered the ceasefire agreement with Netanyahu, and that other administration officials were in contact with the Iranians. An official familiar with the negotiations told Reuters on Tuesday that Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani offered assurances of Tehran's approval during a phone call with Iranian officials.
Israel launched a surprise attack on June 13 targeting Iranian nuclear sites, claiming Iran was trying to build a nuclear bomb, and killed senior military leaders in the worst threat to the Islamic Republic since the war with Iraq in the 1980s.
Iran says its nuclear program is for peaceful purposes and denies seeking to develop nuclear weapons.
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We want a deal, we don't want a new CONFLICT.
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